To what extent are corporate social responsibility initiatives benefecial to companies like N-Pharma ?
Since N- Pharma is a drug company which serivices the health of people, being socially responsible shows people that the company isn't just manufacaturing and selling drugs to become rich but they are operating the business as they care for the people.
Corporate social responsibility initiatives will be beneficial to a company such as N-Pharma, following the business’ controversy surrounding animal testing in particular. In 2008, scientists in one of N-Pharma’s laboratories conducted research on the effects of a new drug on animals. This resulted in a negative image of N-Pharma portrayed by the world’s media. By implementing corporate social responsibility initiatives, N-Pharma can attempt to reestablish her image as a socially responsible company, taking responsibility for the impact of her activities on the environment, consumers, stakeholders and communities in particular. Tadashi Agi, a professor of business ethics at the National University of Tsukuba was hired in a new position as “director of corporate social responsibility” as part of N-Pharma’s development of corporate social responsibility initiatives following the negative publicity. The new initiatives that Agi has begun to implement include a “Charter of Ethics”, which sets the ethical objectives for the company. This will be beneficial as it implements the basis of change for N-Pharma’s ethical objectives throughout the business.
Agi also plans to communicate his ethical objectives for N-Pharma via the use of information and communication technology (ICT). This will help promote the business’ public interest in being a socially responsible company and thus strengthen her image in the pharmaceutical business market.
On the other hand, limitations to corporate social responsibility are that the sole purpose of the business implementing these initiatives may be to maximize returns to their stakeholders and therefore feel that they only need to be responsible to their stakeholders rather than society on a whole. This could be a potential problem for N-Pharma, where the motives of the business in implementing these initiatives may be questioned.
However, Agi plans to carry out both social and environmental audits throughout the business to ensure the implementation of N-Pharma’s corporate social responsibility initiatives.
Identify two restraining forces and two driving forces for N-Pharma to collaborate with other pharmeucetical companies in researching new drugs.
Describe three features that a code of practice for N-Pharma employees might be expected to follow if N-Pharma where to open up a new subsidiary in a less developed country.
They might be expected by the community to be socially responsible by looking after the enviroment, employ and train people in order to bring development into the country.....
To what extent are corporate social responsibility initiatives benefecial to companies like N-Pharma ?Since N- Pharma is a drug company which serivices the health of people, being socially responsible shows people that the company isn't just manufacaturing and selling drugs to become rich but they are operating the business as they care for the people.
Corporate social responsibility initiatives will be beneficial to a company such as N-Pharma, following the business’ controversy surrounding animal testing in particular. In 2008, scientists in one of N-Pharma’s laboratories conducted research on the effects of a new drug on animals. This resulted in a negative image of N-Pharma portrayed by the world’s media. By implementing corporate social responsibility initiatives, N-Pharma can attempt to reestablish her image as a socially responsible company, taking responsibility for the impact of her activities on the environment, consumers, stakeholders and communities in particular.
Tadashi Agi, a professor of business ethics at the National University of Tsukuba was hired in a new position as “director of corporate social responsibility” as part of N-Pharma’s development of corporate social responsibility initiatives following the negative publicity. The new initiatives that Agi has begun to implement include a “Charter of Ethics”, which sets the ethical objectives for the company. This will be beneficial as it implements the basis of change for N-Pharma’s ethical objectives throughout the business.
Agi also plans to communicate his ethical objectives for N-Pharma via the use of information and communication technology (ICT). This will help promote the business’ public interest in being a socially responsible company and thus strengthen her image in the pharmaceutical business market.
On the other hand, limitations to corporate social responsibility are that the sole purpose of the business implementing these initiatives may be to maximize returns to their stakeholders and therefore feel that they only need to be responsible to their stakeholders rather than society on a whole. This could be a potential problem for N-Pharma, where the motives of the business in implementing these initiatives may be questioned.
However, Agi plans to carry out both social and environmental audits throughout the business to ensure the implementation of N-Pharma’s corporate social responsibility initiatives.
Identify two restraining forces and two driving forces for N-Pharma to collaborate with other pharmeucetical companies in researching new drugs.
Describe three features that a code of practice for N-Pharma employees might be expected to follow if N-Pharma where to open up a new subsidiary in a less developed country.
They might be expected by the community to be socially responsible by looking after the enviroment, employ and train people in order to bring development into the country.....